EMV Cards

EMV Cards

Global EMV Cards Market to Reach US$6.3 Billion by 2030

The global market for EMV Cards estimated at US$4.0 Billion in the year 2023, is expected to reach US$6.3 Billion by 2030, growing at a CAGR of 6.5% over the analysis period 2023-2030. Contactless Cards, one of the segments analyzed in the report, is expected to record a 7.9% CAGR and reach US$3.9 Billion by the end of the analysis period. Growth in the Contact-based Cards segment is estimated at 4.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.1 Billion While China is Forecast to Grow at 10.2% CAGR

The EMV Cards market in the U.S. is estimated at US$1.1 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.3 Billion by the year 2030 trailing a CAGR of 10.2% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.5% and 6.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR.

Global EMV Cards Market - Key Trends and Drivers Summarized

EMV cards, named after their developers Europay, MasterCard, and Visa, represent a significant advancement in payment card technology, replacing the traditional magnetic stripe with a microprocessor chip. This chip-based technology enhances security by generating a unique transaction code for each purchase, making it exceedingly difficult for fraudsters to replicate card information. The transition to EMV cards has been driven by the need to combat rising instances of card fraud and improve transaction security. Unlike magnetic stripe cards, which store static data that can be easily copied, EMV cards provide dynamic authentication, offering a robust defense against counterfeit card fraud. The adoption of EMV cards has become widespread across the globe, with many countries mandating their use to enhance payment security.

Technological advancements in EMV cards have further cemented their position in the market. Contactless EMV cards, for instance, utilize Near Field Communication (NFC) technology, allowing users to make payments by simply tapping their card on a terminal. This innovation not only speeds up transactions but also provides a convenient and hygienic payment method, which has gained particular importance in the context of the COVID-19 pandemic. Additionally, EMV cards are now often equipped with additional functionalities, such as integration with mobile payment platforms and multi-application capabilities, enabling them to store multiple services on a single card. These technological improvements have contributed to the growing popularity and utility of EMV cards in the modern payment ecosystem.

The growth in the EMV card market is driven by several factors, including increasing concerns over card fraud, regulatory mandates, and technological advancements. The rising incidence of data breaches and fraudulent activities has heightened the demand for more secure payment methods, with EMV cards offering a proven solution. Regulatory bodies in various regions have implemented policies that require the adoption of EMV technology, accelerating its deployment among financial institutions and merchants. Technological advancements, such as the development of contactless payment capabilities and enhanced card functionalities, have also spurred market growth. Consumer behavior plays a crucial role, with a growing preference for secure and convenient payment methods driving the demand for EMV cards. Additionally, the expansion of digital and e-commerce transactions has necessitated robust payment security, further promoting the adoption of EMV technology. These factors collectively underpin the rapid growth and widespread acceptance of EMV cards in the global payment landscape.

Select Competitors (Total 54 Featured) -

• Beijing Watchdata Co. Ltd.
• dz Card (International) Ltd.
• EMVCo, LLC
• Fiserv, Inc.
• Giesecke+Devrient GmbH
• Goldpac Group
• IDEMIA Group
• Mastercard Inc.
• M-Tech Innovations Ltd.
• NCR Voyix Corporation
• Perfect Plastic Printing Corp
• Seshaasai Business Forms Pvt. Ltd.
• Thales Group
• Toppan Gravity
• Versatile Card Technology Pvt. Ltd.
• Wuhan Tianyu Information Industry Co., Ltd.;

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